Filing a Joint Bankruptcy Petition When a married couple files for bankruptcy protection they would file a joint bankruptcy petition. In many cases, filing jointly has helped married couples save time and money during the process. While the process is similar to an individual bankruptcy filing, there are a few details to keep in mind [...]
Many debtors who seek bankruptcy protection often don't know where to start when it comes to hiring a bankruptcy attorney. While it is important to know what to look for when hiring legal representation, some people may feel they have limited sources to choose from. Most don't realize there are a variety of sources available [...]
Choosing the right bankruptcy attorney greatly increases chances of getting a successful outcome for your case. Your case could be jeopardized by an attorney who is unfamiliar with bankruptcy laws; meaning your assets could be at risk. The good news is there are a few easy tips to keep in mind that may help you [...]
Many believe they have to be broke or completely financially unstable in order to contact a bankruptcy attorney. Even if you feel you are in good place with your finances, it may prove helpful to get information about bankruptcy that could be useful later on. On the other hand, certain situations could be reviewed with [...]
Whether you file a Chapter 7 or Chapter 13 bankruptcy , you are required to disclose certain financial information about your business. Most likely, any business interest accrued would need to be disclosed; if you have more than 5 percent in business ownership, this would also need to be presented upon filing. Basic information about [...]
Your Rights Under Bankruptcy Laws While some may assume bankruptcy laws lean more toward helping debtors than creditors or vice versa, the fact is they are designed to protect both debtors and creditors. Rules and regulations in relation to bankruptcy laws, along with the rights of both groups, are enforced by the bankruptcy court to [...]
When entering a marriage, an individual may assume their personal property and assets brought into the relationship will continue to be their own but this may not always be the case. While debtors have the option to file bankruptcy jointly with their spouse, they may also seek relief as an individual. So what happens when [...]
Many debtors may not realize how significant tax documents are when it comes to filing bankruptcy. These documents are often presented to your trustee when you begin the filing process along with your list of creditors and outstanding debt. It's common for some to not have their tax returns filed but if you're seeking to [...]
You may wonder if it is time to file bankruptcy when you're struggling to make good on financial obligations. Individuals looking to improve their financial situation become overwhelmed. Creditors tend to make things worse when they become aggressive with their collection tactics and lead to debtor harassment . This is often the case for outstanding [...]
Submitting a List of Creditors When you file for bankruptcy you are required to submit a list of creditors you want to include in the filing. In many cases, it's up to the debtor whether or not to add a creditor with a zero balance. It's not out of the ordinary to have a credit [...]